Chinese VIPs bring up profits for Paradise

Casino revenues rose 19.7 percent for operator Paradise Co. to 127.66 billion won ($114.8 million). At its flagship Walker Hill casino in Seoul, revenues rose 12.9 percent to 110.39 billion won as table revenues rose 13.7 percent to 103.8 billion won and slot revenues rose 1.5 percent to 6.6 billion won. Paradise said its share of the foreigner-only casino market rose 1.5 percentage points to 51.7 percent in the quarter. The company said Chinese VIPs accounted for 53.6 percent of table drop at the Walker Hill and Jeju Grand casinos but only 37.2 percent of VIP traffic, with Japanese VIPs still most numerous.  Corporate net profits rose 52.4 percent to 37.3 billion won.